The competent court may also, on referral by the administrative authority responsible for cooperatives or any interested person, dissolve any cooperative if, as the case may be:
a) the cooperative has not started its operations within two years from the registration thereof;
b) it has not exercised its statutory activities for two consecutive years;
c) it has not complied with the provisions of this Uniform Act by holding annual meetings for at least two consecutive years;
d) it failed, for a period of one year, to send notices or documents required by this Uniform Act to the competent institutions or authorities;
e) it is operating without management, administrative or supervisory board for at least three months;
f) When the cooperative is not organized or has made no transactions in accordance with the cooperative basis.
Unofficial translation
Transcription: Spot-checked
In force from 16-05-2011
Source page 49
The document's transcription was spot-checked against the supplied source; this does not confirm a line-by-line review of every provision.
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